How to Leverage LinkedIn for Customer Discovery
Every successful startup must go through the initial phase of defining their customer segment and validating their market value proposition. This phase is called customer discovery in a traditional sense, is usually conducted with in person interviews. With the impact of COVID-19 it can obviously be difficult to engage in person-to-person interaction. Using online tools can be a great alternative to reaching a mass amount of people in a particular field.
Brandy Nagel is an expert in evidence-based entrepreneurship (Lean Startup) and former teaching assistant to entrepreneur expert- Steve Blank. She currently works for Georgia Tech’s Economic Development Lab helping universities and communities grow their innovation and entrepreneurship efforts. This past week, Brandy shared her knowledge with in a two-part workshop with ATDC on how to leverage LinkedIn for Customer Discovery.
Why Do We Do Customer Discovery?
Let’s say you’re a startup with an awesome idea for a product. You begin with an hypothesis- “my company will solve this problem because xyz”
Okay that’s a great, but your company will be more successful if you have data to back that hypothesis up. With you own product idea in mind, it’s easy to make assumptions about your customers. After working with startups over the years, Brandy Nagel discovered that 60% of what founders believed to be true about their customer was proven to be not true once they conducted the research. We do customer discovery to gather evidence and ultimately derisk our startup. This research helps you get past the kindness of your immediate network and get down to the truth.
How Do I Get Started?
“Talk to strangers.
Talk to a LOT of strangers.” - Brandy Nagel
For B2B startups it is recommended that your company conducts at least 100 interviews during the customer discovery phase- for B2C the recommendation is to 200. These numbers can seem high but most startups do not begin to see trends until after 60 interviews. For those that are nervous about approaching others, customer discovery can be difficult in the beginning. Brandy’s advice for this? Think about how much more confident you’ll be advocating for your company and presenting to investors once you actually have the data to back it up! Think about the valuable time (and money) you’ll save if you discover that there might not be a need for your product in the market. Once you have an idea of the customers that you want to target, use LinkedIn as a tool to search for people and schedule interviews.
#1 UPDATE YOUR PROFILE
Before you begin your outreach, Brandy recommends that you establish your own LinkedIn Profile first.
Begin by editing your LinkedIn url to match your name
Make your profile visible to the public
Update your LinkedIn summary to explain the research you’re conducting. Avoid mentioning your product or service directly in an effort to not appear too sales-y.
. #2 NARROW YOUR SEARCH
Based on your customer segment, you might need to research people at a particular company.
Enter a keyword and narrow it down to 1st - 2nd degree connections for more relevant results.
Connect with people who used to work there. You may find they might be able to give you insights that help you in ways current employees couldn't do.
#3 JOIN A GROUP
LinkedIn has groups for all enthusiasts that can be utilized to connect with potential clients. Some groups may be private or only open to certain people.
Try this approach when asking to join a private group: "I'm doing research in the industry and it would be helpful to meet people in the field. I'll just be there as an observer, ask a few questions."
Where these tips helpful? What platforms are you using to conduct Customer Discovery? Let us know in the comments!
The Advanced Technology Development Center (ATDC) at Georgia Tech is Georgia’s technology incubator. Founded in 1980, ATDC has developed a global reputation for fostering technological entrepreneurship.
Brandy Nagel works at Georgia Tech’s Economic Development Lab. She helps universities and communities grow their innovation and entrepreneurship efforts. She teaches evidence-based entrepreneurship (Lean Startup) and offers other programs to support startups. Over the past 10 years she has worked with startups and entrepreneur support organizations in the greater Atlanta area, Puerto Rico, Chile, South Korea, and India.